Forex reserves at life-time high

Country's foreign exchange reserves increased by USD 262.4 million to touch a new life-time high of USD 352.131 billion in the week to May 8 on account of rise in foreign currency assets, RBI said.
In the previous week, the forex reserves had risen by a whopping USD 7.26 billion to USD 351.87 billion.
The foreign currency assets, a major component of the overall reserves, were up USD 262.7 million to USD 327.415 billion for the reporting week, the RBI data showed today.
Foreign currency assets, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies such as the euro, pound and the yen, held in the reserves.

The gold reserves remained stable at USD 19.335 billion, the apex bank said.
The special drawing rights with the International Monetary Fund were down USD 0.2 million to USD 4.062 billion, while the country's reserve position with the fund also declined by 0.1 million to USD 1.316 billion, the data showed.